write an essay on pocket money should be given to children.
Answers
Giving pocket money to children as young as four or five years helps them start learning about the value of money and money management. For example, when children get pocket money, they have to make choices about spending or saving. If they’re saving, they’ll learn about waiting for things they want.
Pocket money can also help children learn about the consequences of losing money. Letting your children make a few mistakes – like spending all their hard-earned savings on fake tattoos instead of a cricket set – is part of the learning process.When to give children pocket money
There are no hard and fast rules about when to start giving children pocket money.
Your child might be ready to try managing some pocket money if she understands that:
she needs money to get things from shops
it’s important to save money, and not spend it all
spending all her money today means there’s no more until the next payment.
How much pocket money?
This depends on your circumstances and what you think is reasonable. As long as your child understands how much he’ll get and how often, he can start learning how to use the money well.
You can base your decision about how much pocket money to give on:
what household chores you expect your child to do
what your family budget will allow
how old your child is – for example, you might give a five-year-old $5 per week and a seven-year-old $7 per week
what you expect pocket money to pay for – for example, if you expect it to cover things like transport, lunches and savings, you might need to give a little more.
What should pocket money cover?
Pocket money could cover any of the following things:
saving for a special game or toy
special outings like the movies
gifts for siblings and extended family members
lunch bought at school once a week.
Your child learns a lot by watching you and how you deal with money. Spending, saving or donating money – they’re all chances to teach your child more about the basics of money management.
As children get older, you can teach them about:
the value of money: the relative price of things
spending: accepting that money is gone once it’s spent
earning: understanding that earning money can be hard work, but usually that’s the only way to get it
saving: using short-term and long-term goals
investing: learning that you have the chance to earn more when you invest
borrowing: understanding the importance of repaying borrowed money
opportunity cost: understanding that when you use money to buy something, you give up the chance to buy something else with that money.
I m here to express my feeling of giving pocket money to children through my words...so what do u think it should be given or not ? ..some of u might saying no and some might saying yes,so friends both are right on their thinking.if we give pocket money to children they will misuse it but if we wont give them then they will try to steel it because he or she may be bored of listening that i have this much money by their friends. so they to want it from their parents ,so they try to steel it.according to me children should be given pocket money but in control ,like giving 500 rupee on their bdays only.so that they will also be happy ad never think of steeling.
but,
their are some people who don't like to give money to their children ,i dont force to those people but today's children's are our next future. we should make them happy and its not compulsary to give them rupee daily ut can give them just on their b days.
thankqq